As a seasoned crypto investor with a few battle scars from past market turbulence, I find myself intrigued by the upcoming launch of EllipX, the new exchange from none other than Mark Karpeles, the phoenix rising from the ashes of Mt. Gox. Given my own experiences with opaque exchanges and their sometimes questionable practices, I am encouraged to see Karpeles’ emphasis on transparency and user-friendliness.
Mark Karpeles, ex-CEO of Mt. Gox, is preparing to unveil a new cryptocurrency exchange called EllipX towards the end of this month. This was disclosed during an interview at the Korea Blockchain Week in Seoul. The platform will initially be launched in Europe, headquartered in Poland. Karpeles has taken on the role of EllipX’s Chief Technology Officer. He underscored that the exchange will focus on maintaining transparency and ensuring the platform’s operations are user-friendly nature and easy—transparent approach and user-friendly interface for users
In simpler terms, EelpX’s alternates will declare their intentions for the performance of the functions that the exchange intends to carry out. This process is similar to the New York Stock Exchange, where the karpues have already stated their reasons for facilitating the crypto transactions while both parties are separate
EllipX Offers Trading Fee Rebates for Mt. Gox NFT Holders
The emphasis on transparency stems from past issues in the cryptocurrency market, like the FTX incident that exposed hidden activities and sparked concerns about security. Regarding transparency matters, EllipX aims to deliver technical data and undergo external audits for its users
Last month, Karpeles introduced the EllipX Wallet, which employs multi-party computation technology to eliminate the need for users to write down their security phrase. Additionally, he is initiating Ungox, a charitable organization operating as a ‘safe space’, aiming to evaluate and rate various cryptocurrency platforms and projects
Regarding Mount Gox, its CEO, Karpeles, mentioned that owners of NFTs from the original exchange will be eligible for trading fee rebates on EllipX. On the other hand, individuals who were customers between 2010 and 2014 might receive free NFTs. Despite the 850,000 BTC heist that occurred in 2014, Karpeles now expresses satisfaction with the advancement of blockchain technology and enhancements in safety over the past decade
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2024-09-04 23:49